The source measure unit market was valued at USD 692.5 Million in 2017 and is expected to reach USD 1,102.1 Million by 2023, at a CAGR of 8.10% during the forecast period. The base year considered for the study is 2017, and the forecast period is between 2018 and 2023.

Study Objectives

To define, describe, and forecast the source measure unit market, in terms of value, by type, form factor, end-user industry, application, and geography

To forecast the market size of segments with respect to 4 main regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)

To provide detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market

To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market

To strategically profile the key players and comprehensively analyze their market rank and core competencies, and detail the competitive landscape for market leaders

To analyze competitive developments such as acquisitions, new product developments, and research and development (R&D) in the source measure unit market

Research Methodology

This research study involves the use of secondary sources, annual reports, directories, and databases such as Hoovers, Bloomberg Businessweek, Factiva, and OneSource to identify and collect information useful for the extensive technical, market-oriented, and commercial study of the source measure unit market. Primary sources mainly comprise several experts from the core and related industries, along with preferred suppliers, manufacturers, distributors, service providers, technology developers, alliances, standards, and certification organizations related to various parts of this industry’s value chain. In-depth interviews with various primary respondents, including key industry participants, subject matter experts (SMEs), C-level executives of key companies, and consultants, have been conducted to obtain and verify critical qualitative and quantitative information, as well as assess prospects. The breakdown of the profiles of primaries has been depicted in the figure below:

The overall source measure unit market is projected to witness significant growth during the forecast period. The market is growing due to the increasing demand for electronic testing equipment in end-user industries such as automotive, aerospace & defense, IT & telecommunications, education and government, process industries, and healthcare. The market is expected to be valued at USD 746.7 Million in 2018 and is likely to reach USD 1,102.1 Million by 2023, at a CAGR of 8.10% during the forecast period.

The report covers the source measure unit market segmented on the basis of type, form factor, application, end-user industries, and geography. Among types of SMUs, precision SMUs accounted for the largest market share in 2017, which can be attributed to the increasing technological advancements that led to the increased affordability of precision SMUs even for low-level measurements. Benchtop SMUs are gaining momentum as they prove to be an ideal choice for testing semiconductors, active/passive components, and a variety of other devices and materials; hence, benchtop SMUs will grow at the highest rate during the forecast period.

Owing to the high adoption of automation in process industries, there has been an increasing demand for high accuracy and repeatability of electronic devices, parts, and equipment. Therefore, process industries will witness the high adoption of SMUs compared to other end-user industries. Among major applications of source measure units, they are being used extensively for semiconductor devices for testing purpose because of their ease of programming, flexibility in the expansion, and wide coverage of sourcing or/and measuring of signal levels. Due to such advantages, SMUs are an ideal choice for testing a wide array of discrete components and will continue to hold the largest share during the forecast period.

APAC accounted for the largest share of the source measure unit market in 2017. The widespread adoption of 4G services and the upcoming 5G network launch are likely to increase the need for testing mobile devices from mobile phone manufacturing countries such as China and Taiwan. Also, the region has the highest number of mobile phone subscribers, and the demand for high processing, long battery power is increasing. In terms of growth, APAC is expected to lead among other regions during the forecasting period.

Output oscillations, ringing, overshoots, and poor transient response times are the drawbacks of source measure units in the case where the system configuration for the device under test is inappropriate. For instance, depending on the load capacitance, the current output voltage bandwidth needs to be selected carefully to avoid output oscillations and poor transient response. In 2017, Fortive Corporation (US), Keysight Technologies (US), and Rohde & Schwarz GmbH (Germany) led the source measure unit market. Some other companies operating in the market are Yokogawa Electric Corporation (Japan), National Instruments Corporation (US), Advantest Corporation (Japan), Viavi Solution, Inc. (US), Chroma ATE Inc (Taiwan), VX Instruments (Germany), and Teradyne (US).

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